Corporate Finance Deal Announcement: Friction Marketing
We are delighted to announce the partial management buy-out of Friction Marketing by Mark Pickford and Craig Lawrence. Equity in the company was purchased from Robert Holden and Allan Mackintosh who also retained equity as part of the transaction. Friction Marketing Limited is a specialist in the field of ‘wet’ friction materials and its products are used in a wide variety of heavy duty transmissions, clutch and brake applications.
Our advice was successfully led by managing director Laurence Whitehead, supported by director, Martin Shaw and senior executive, Howard Stern. Specialist corporate tax advice was provided by tax director Gareth Peters. The team worked closely with all parties, assisting management to define the deal price, advising on the structure of the transaction, as well as managing the deal process in liaison with other advisers to the deal.
Mark and Craig commented:
“We are delighted to become part owners with Rob and Allan. We have great confidence in the future of the business and this deal now enables us to share in the upside too. Laurence and his team put together a transaction price and deal structure that works for us all and Gareth dealt with some tricky tax issues. Now that the deal has completed, we can focus totally on continuing to make the business a success.”
Rob and Allan added:
“Mark and Craig have been working in senior management roles for a number of years and have provided great support to us during that period. It is only right that they should now become shareholders in the company and assist us take the business to the next level.”
We wish the Allan, Rob, Craig and Mark every success in the future and look forward to working with them again some time soon.
How can we help
If you would like to know more about this deal or how we can assist you, your clients or your contacts on corporate finance or strategic planning matters, then call us 0845 366 4793 or email firstname.lastname@example.org to arrange an initial no-obligation meeting.